To qualify for Experience Rating, what must employers achieve?

To qualify for Experience Rating, employers need to meet the established premium threshold on average over the entire experience period. This threshold is critical because it determines whether an employer has enough incurred losses and premium payments to qualify for the experience rating adjustment. The experience rating system is designed to adjust an employer's workers' compensation insurance premiums based on their claims history relative to other businesses in the same industry.

Employers with higher-than-average claims may pay more, while those with fewer claims than their peers may benefit from lower premiums. This system encourages employers to maintain safe workplaces and reduce workplace injuries, as it directly impacts their insurance costs.

The other options do not capture the essence of what is required for experience rating. While factors such as employee numbers or training programs may be relevant in other contexts, they are not criteria for receiving experience rating benefits. Similarly, having low claims history is important but does not alone fulfill the specific requirement of meeting the established premium threshold crucial for qualification in the experience rating system.